Medical Equipment Maintenance Market Trends Forecast by Regions and Types to 2027

Posted on 2022-12-06 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Dec 07, 2022 — /EPR Network/ —

Industry Overview

The global Medical Equipment Maintenance Market size is expected to reach USD 61.7 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.9% from 2021 to 2027. Rising focus on preventive device maintenance, adoption of advanced funding mechanisms, growth of the associated devices markets, and increasing market share of refurbished medical devices are anticipated to drive the market over the forecast period.

In addition, a surge in the need for technologically advanced medical equipment and an increase in healthcare expenses are expected to propel the market growth. The maintenance of medical devices is a very essential procedure owing to the high use of devices in critical health matters. For instance, calibration is a vital procedure for any medical device to maintain and improve its precision and accuracy, thereby preventing any safety hazards.

Furthermore, increasing global disposable income, rising medical device approvals, and growing adoption of new technologies in emerging countries are projected to further fuel the sales of medical devices, in turn, promoting the maintenance demand. Due to the growing geriatric population, higher expenditure is witnessed for remote patient monitoring devices. And these devices require higher maintenance, which is expected to carry on over the forecast period, thus contributing to the market revenue.

Growing demand and purchase of refurbished medical devices are other vital impacting factors that may propel the medical device maintenance market in the coming years. Additionally, the rising installation of technologically advanced medical devices in hospitals, diagnostic centers, and clinics is expected to drive the market over the forecast period. However, the higher maintenance cost is expected to restrain market growth.

Medical Equipment Maintenance Market Segmentation

Grand View Research has segmented the global medical equipment maintenance market based on equipment, service, and region:

Based on the Equipment Insights, the market is segmented into Imaging Equipment, Electromedical Equipment, Endoscopic Devices, Surgical Instruments, and Other Medical Equipment

The imaging equipment segment accounted for the largest revenue share of 35.8% in 2020, which includes several devices such as CT, MRI, Digital X-Ray, ultrasound, and others.
The surgical instruments segment is expected to register the highest CAGR of 8.4% over the forecast period.

Based on the Service Insights, the market is segmented into Preventive Maintenance, Corrective Maintenance, and Operational Maintenance

The corrective maintenance segment accounted for the largest revenue share of 57.1% in 2020.
The preventive maintenance segment is anticipated to register the highest CAGR of 8.7% over the forecast period.

Medical Equipment Maintenance Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

Companies are adopting partnership as a key strategy to sustain in the highly competitive environment and acquire a greater market share.

Some prominent players in the global Medical Equipment Maintenance market include:

GE Healthcare
Siemens Healthineers
Koninklijke Philips N.V.
Drägerwerk AG & Co. KGaA
Medtronic
Braun Melsungen AG
Aramark
BC Technical, Inc.
Alliance Medical Group
Althea Group

Order a free sample PDF of the Medical Equipment Maintenance Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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